Aug. 27, 2024 | Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here is a look at Tuesday’s business headlines with Jane King, where she discusses Labor Day bringing in good deals for car buyers and Lowe’s dropping from diversity programs after online backlash.

Lilly to make single-dose vials of Zepbound available

Eli Lilly & Company is making starter doses of the weight loss drug Zepbound available in single-dose vials.

Lilly says this will “significantly” expand supply of the drug as the company sees continued high demand.
Instead of a preloaded injector pen, patients will use a syringe to draw out the medicine.

The new vials will only be available to people who pay out of pocket through Lilly Direct.

That’s the company’s platform that helps coordinate telehealth services and fill prescriptions for patients.

Dow closes at record high

The Dow closed at a record high Monday.

The markets have been on a wild ride this month with a huge drop a few weeks ago and now record highs.

Stocks have risen on anticipation the Federal Reserve will cut interest rates in September. It would be the first interest rate cut in more than two years.

Lowe’s scraps some DEI programs after online backlash

Lowe’s has scrapped some diversity, equity, and inclusion programs.

The home-improvement retailer will no longer participate in surveys for LGBTQ+ advocacy group The Human Rights Campaign, and will also combine its various business resource groups that represent diverse employees into one umbrella organization.

Lowe’s was under pressure from some social media activists to drop the programs and focus on the core business.

Labor Day could bring good deals for car buyers

Car dealerships looking to make room for new models this Labor Day will be offering incentives to help move vehicles — and that could mean opportunities for car buyers.

Holiday deals on financing can bring down payments on several popular car models to levels that more families can afford.

The average car payment is up to $753 per month , according to Cox Automotive.

Personal finance experts typically recommend that people spend less than 10% of their take-home pay on car payments.

Lilly Endowment grants $100 million to national parks

The National Park Foundation, the fundraising arm of the U.S. National Park System, says it has received the largest grant in its history: $100 million from the Indiana-based Lilly Endowment .

Though the foundation is still determining how the funds will be distributed among the more than 400 sites managed by NPS, the gift comes “at a pivotal time,” during which national parks are navigating visitor surges and the impacts of climate change.

Red Lobster to close more stores, including in Indiana

The latest expected restaurant closures bring the total to at least 129 across the U.S., but only one in Indiana.

On May 19, Red Lobster filed for bankruptcy after closing dozens of locations and announcing plans to “drive operational improvements” by simplifying the business.

The only Indiana location to close is in Michigan City . Multiple other Indiana locations fell victim to closures during the restaurant’s first round of closing announcements .